From the TUC

Janet Williamson's Articles

Beyond Shareholder Value – the reasons and choices for corporate governance reform

08 Jul 2014, by in Economics

The emphasis on shareholder value within our corporate governance system contributes to short-termism and is damaging both our economy and society. Reform is possible and urgent. There are a wide range of practical ideas for what form it should take, including in the area of stakeholder representation within decision-making within companies and in the wider…

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Pfizer’s bid for AstraZeneca shows that the way to depoliticise takeovers is to regulate them effectively

19 May 2014, by in Economics

The Pfizer-Astra Zeneca takeover tussle illustrates yet again the problems with the UK’s system of mergers and takeovers. Nonetheless, there are some interesting differences in comparison to the Kraft takeover bid for Cadbury back in 2010. The media and political debate around the merits of the Pfizer bid has centred largely on the likely impact…

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Abolishing stamp duty on AIM shares will not address the tax advantages of debt financing

20 Mar 2013, by in Economics

The TUC has long been concerned that the tax deductibility of interest payments on corporate debt encourages companies to carry high levels of debt and fuels highly-leveraged company buyouts. So our ears pricked up when George Osborne acknowledged in his Budget speech that the UK tax system ‘biased debt financing over equity investment’, implying –…

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Government bribes employees to give up employment rights

20 Mar 2013, by in Working Life

The Chancellor has announced that the first £2,000 of shares given to workers who become ’employee shareholders’ will be exempt from both national insurance and income tax. Plans for a new ‘employee shareholder’ scheme were announced at the Conservative Party Conference. Under the scheme, employers will be able to offer employees at least £2,000 of…

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Cox Short-termism Review highlights importance of industrial policy but detailed recommendations fall short

05 Mar 2013, by in Economics

The Labour Party has today published an independent review Overcoming Short-termism within British Business carried out by Sir George Cox, a former Director General of the IoD. There is much to welcome in the review. In particular, it makes a powerful case that short-termism, which it defines as ‘the pressure to deliver quick results to…

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